JPMorgan Chase CEO To Testify On Trading Losses
RENEE MONTAGNE, HOST:
NPR's business news starts with the head of JPMorgan Chase on the hot seat.
(SOUNDBITE OF MUSIC)
MONTAGNE: Jamie Dimon is testifying before the Senate Banking Committee this morning, about a $2 billion trading loss at the nation's biggest bank. The CEO of JPMorgan Chase told lawmakers that senior bank officials responsible for the loss will probably have some of their pay taken back by the company. Dimon says despite the massive losses disclosed this month, the bank's overall balance sheet remains solid.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.